A deposit of $4000 is made today for a five-year period. For how long can $500 be

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A deposit of $4000 is made today for a five-year period. For how long can $500 be withdrawn from the account at the end of every three months starting three months after the end of the five-year term if interest is 4% compounded quarterly?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:04 AM

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A deposit of $4000 is made today for a five-year period. For how long can $500 be

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Amount after 5 years PV 400000 i 1 n 20 FV 400000l0l 20 4000001220190 488076016 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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